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The Budget and Economic Outlook, 2014 to 2024

Title:
The Budget and Economic Outlook, 2014 to 2024
Format:
Paperback
USA Price: 
$32.00
$16.00
Display Foreign Price
Stock:
Low stock
GPO Stock Number:
052-070-07671-2
ISBN:
9780160922992
Description

This volume is one of a series of reports on the state of the budget and the economy that the Congressional Budget Office (CBO) issues each year. It satisfies the requirement of section 202(e) of the Congressional Budget Act of 1974 for CBO to submit to the Committees on the Budget periodic reports about fiscal policy and to furnish baseline projections of the federal budget. In accordance with CBO’s mandate to provide impartial analysis, the report makes no recommendations.

The CBO updates the Outlook on a yearly basis to ensure the latest economic changes are factored into the forecast.

NOTE: NO FURTHER DISCOUNTS FOR ALREADY REDUCED SALE ITEMS.

Table of Contents

Summary 1

1
The Budget Outlook 7
A Review of 2013 9
The Budget Outlook for 2014 11
CBO’s Baseline Budget Projections for 2015 to 2024 14
Uncertainty in Budget Projections 19
BOX 1-1. IMPLICATIONS OF THE BUDGET CONTROL ACT OF 2011 AND
SUBSEQUENT CHANGES 20
Alternative Assumptions About Fiscal Policy 22
The Long-Term Budget Outlook 25

2
The Economic Outlook 27
The Economic Outlook Through 2017 28
BOX 2-1. SUMMARY OF THE COMPREHENSIVE REVISION TO THE
NATIONAL INCOME AND PRODUCT ACCOUNTS 29
The Economic Outlook for 2018 to 2024 40
Projections of Income 43
Comparison With CBO’s February 2013 Projections 44
Comparison With Other Economic Projections 46

3
The Spending Outlook 49
BOX 3-1. CATEGORIES OF FEDERAL SPENDING 51
Mandatory Spending 52
Discretionary Spending 65
BOX 3-2. FUNDING FOR OPERATIONS IN AFGHANISTAN AND IRAQ AND FOR
RELATED ACTIVITIES 68
Net Interest 74

4
The Revenue Outlook 79
How the Composition of Revenues Is Evolving 80
Individual Income Taxes 82
Social Insurance Taxes 84
Corporate Income Taxes 85
Smaller Sources of Revenues 87
Tax Expenditures 89
A
Changes in CBO’s Baseline Since May 2013 95

B
Updated Estimates of the Insurance Coverage Provisions of the
Affordable Care Act 105

C
Labor Market Effects of the Affordable Care Act: Updated Estimates 117

D
How Changes in Economic Projections Might Affect Budget Projections 129

E
The Effects of Automatic Stabilizers on the Federal Budget as of 2014 135

F
Trust Funds 143

G
CBO’s Economic Projections for 2014 to 2024 151

H
Historical Budget Data 155

List of Tables and Figures 167

About This Document 170

Audience

Policymakers, members of government, governmental agencies, and businesses will all want information on the Federal Budget since this data can affect future policy decisions and business and market trends.  In addition, members of the general public who want to be informed about, and understand, the Federal Budget will enjoy this publication.

Product Details

Availability Details:
In Stock
USA Price:
$16.00
International Price:
$22.40
Publisher:
Congress, Congressional Budget Office
Year/Pages:
2014: 179 p.; ill.
Key Phrases:
  • Budgets
  • Federal Budgets
  • Budget and Economic Outlook, 2014 to 2024
Weight:
1.375
Quantity Price:
Discount
Cover:
Paper
Unit of Issue (US):
1
Unit of Issue (Non-US):
1
Item available Date:
02/11/2014
Last Status Update:
01/17/2017
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